Indian stock-index futures gained after the underlying CNX Nifty Index (NIFTY) rose for the first time in three days yesterday.
SGX CNX Nifty Index futures for December delivery added 0.1 percent to 8,581.5 at 9:50 a.m. in Singapore. The Nifty increased 0.2 percent to 8,537.65 yesterday, while the S&P BSE Sensex (SENSEX) closed little changed. The Bank of New York Mellon India ADR Index of U.S.-traded shares advanced 1.3 percent.
Most Indian stocks rose yesterday as small and medium-sized companies climbed amid data showing a seventh straight month of expansion in manufacturing, adding to signs that Asia’s third-largest economy is improving.
International investors bought a net $ 21.2 million of local shares on Dec. 2, taking this year’s inflow to $ 16.4 billion.
The Sensex has increased 34 percent this year, the best performer among the world’s 40 biggest markets, and is valued at 15.8 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s multiple of 11.2.
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